Supremium: Spotify is launching a new, more expensive tier

6/20/23 7:00PM

Amped up‍

‍Spotify is reportedly gearing up to introduce a new, more expensive, subscription tier internally dubbed "Supremium", according to recent reports from Bloomberg.

The new offering is expected to include a HiFi feature — which had been delayed following Apple Music and Amazon Music's decision to offer it for free as part of their standard plans — and premium subscribers may also get access to some audiobooks in future as well.

Spotify execs will be hoping that the new features convince more of their free users to convert to paying subscribers. Indeed, while just ~40% of Spotify's user base opts for the paid option, it's that segment that sustains the company, accounting for a staggering 97% of the company’s cumulative gross profit since 2017. The ad-supported option, where users endure 15-30 second advertisements every few songs, hardly contributes to the company’s bottom line, covering its basic costs while acting more like a marketing funnel for the premium service.

‍Podcasting pivot

‍The ad-supported part of Spotify’s business also includes its podcast efforts — which have been scaled back dramatically, with 200 employees from its podcast division being laid off just 2 weeks ago. The company’s strategy around “Spotify Originals” has also shifted; a new show with Trevor Noah will no longer be exclusive to Spotify and the company has also parted ways with Prince Harry and Meghan, following their lucrative podcast deal in 2020, which was valued at $20m.

‍Related chart: have we hit peak podcast?

Delta, the K-shaped airline

Delta’s premium ticket sales grew more than 7% in 2025. Its main cabin ticket sales fell 5%.

Diageo is considering selling parts of its struggling China business

The Guinness and Johnnie Walker giant has its work cut out in the nation, where drinking has sunk since 2015.

Max Knoblauch1/12/26

Paramount sues Warner Bros. for more info on its deal with Netflix, says it plans to nominate new directors

It’s a fresh week and that means a fresh bit of escalation in the ongoing Warner Bros. Discovery merger drama.

At an upcoming meeting, Paramount Skydance plans to “nominate a slate of [WBD] directors who, in accordance with their fiduciary duties, will... enter into a transaction with Paramount,” CEO David Ellison wrote in a letter to WBD shareholders disclosed on Monday.

Ellison also said that Paramount sued WBD in Delaware court in an effort to force the board to disclose “basic information” that will allow shareholders to make an informed decision between Paramount’s offer and one from Netflix. WBD shares dipped about 2% on Monday morning.

The latest update follows Paramount’s move last week to reaffirm — but not raise — its $30-per-share offer for WBD. Some saw that decision as Paramount effectively throwing in the towel on its merger hopes, given that the same deal has been rejected twice by the WBD board and winning over shareholders directly is a difficult process. Monday’s disclosure appears to signal that whether it loses or not, Paramount isn’t going to make Netflix’s acquisition easy.

Hyunsoo Rim

one battle after another

1/12/26

Saks Global nears bankruptcy as department stores lose ground in America

On top of its debt-laden luxury merger, the retailer’s operating in a sector that’s been in retreat for over 20 years.